PIABA President, Andrew Stoltman, says Billion fine is Unjust- Wells Fargo.Execs Should Go To Jail

[laserhaas]

Andrew Stoltman sounds like Elizabeth Warre, as an Anti-Wall Street politician, when he recently appeared on CNBC's Closing Bell" stating the $1 Billion dollar, recent fine, on Wells Fargo, is inadequate.

Per CNBC, Andrew Stoltman, who is not a politician (at least - not yet), but, is actually, the President of the Public Investors Arbitration Bar Association - who is quoted by CNBC as stating this...

"The executives and the board of directors were responsible for this, and I don't think the actual fine fits the crime. And make no mistake about it, it is a crime," he said on "Closing Bell."

In fact, he (Stoltman) thinks some executives should face prison time.

"To the extent you don't have senior executives going to prison, I think you are going to continue to see these sorts of abuses going forward," said Stoltmann, an investor advocate.

This is the link to the CNBC article; which is well worth watching.

https://www.cnbc.com/2018/04/20/wells-fargos-1-billion-fine-doesnt-fit-the-crime-securities-attorney.html

Link to tweet

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[Sherman A1]

1. I believe it should be both a larger fine

Jail for the management involved and a revoking of the corporate charter. If corporations are people, let them be punished as such.

[laserhaas]

3. Concur!

Mitt and his Bain V capital, both belong, in jail.

[Phoenix61]

2. Fines are pointless

They don't punish the perpetrators of the crime. I'm all for jail time. They were either willing participants or criminally negligent.

[laserhaas]

4. Agree...its a slap on the wrist.